David K. Olson
Virtual
CFOs, LLC.
BIOGRAPHY
David Olson has spent the last 29 years in the business world and has been a CPA since 1975. He is currently president of Virtual CFOs, LLC. Virtual CFOs provides experienced financial management to small and medium sized companies that need more expertise than they currently have. Essentially operating as their part-time Controller or CFO, Virtual CFOs takes responsibility for analyzing and suggesting new business opportunities and strategies, as well as the traditional functions of capital structure design and assessment, controllership, and treasury.
Prior to founding Virtual CFOs, Mr. Olson spent ten years with Servicemaster of Downers Grove, IL. Servicemaster is a $5 billion company that provides various services to consumers, as well as management services to hospitals, schools, and industrial operations. Mr. Olson was chief financial officer of the $1.1 billion Healthcare Management Services Division which represented two-thirds of the Management Services segment. In addition to his normal responsibilities, he conceived, organized and led an effort to identify new service offerings and markets. Among other things, he participated in sales to large customers, improved collections over 40%, and created automated systems for tracking, reporting, and analyzing key operational data.
Mr. Olson started as controller at South-Western Cable TV before leading the organization as vice president and general manager. During his tenure, revenues increased by 150%. He conducted many successful negotiations including a labor contract, new supplier contracts that doubled profitability, plus rate increase and other agreements with town councils of the seventeen communities served by the system.
Mr. Olson served as accounting manager for Southwestern
Bell Publications. At the point of
divestiture of the Bell Telephone system, Publications went from a $750 million
division to a separate subsidiary. Mr.
Olson assembled a trusted staff of accounting professionals, established the
necessary procedures and controls during the first few months of operation, and
created the subsidiary’s first comprehensive financial/operational reporting
and analysis system. He also played a
major part in
Mr. Olson began his business career with five years in the audit division of Arthur Andersen. There he worked in a wide variety of industries with a primary focus on manufacturing. He graduated with a Bachelor’s Degree in Accounting from Southern Illinois University in 1975.